The property, which is 98 percent leased, also contains a six-level parking structure. The building was constructed in 1979 and renovated in 2000. The buyer plans to make improvements to the property, stabilize the building at market rents and extend the parking garage’s master lease, Shannon said in a statement.

El Segundo, home to the corporate headquarters of Mattel and DIRECTV, “is a very strong office market that continues to see capital acquire and renovate older properties to attract tenants looking for creative space,” Shannon said.